Mr. Speaker, pursuant to House Resolution 1084, I call up the bill (H.R. 6760) to amend the Internal Revenue Code of 1986 to make permanent certain provisions of the Tax Cuts and Jobs Act affecting individuals, families, and small…
Mr. Speaker, pursuant to House Resolution 1084, I call up the bill (H.R. 6760) to amend the Internal Revenue Code of 1986 to make permanent certain provisions of the Tax Cuts and Jobs Act affecting individuals, families, and small businesses, and ask for its immediate consideration.
Mr. Speaker, I ask unanimous consent that all Members may have 5 legislative days in which to revise and extend their remarks and include extraneous material on H.R. 6760, currently under consideration.
Mr. Speaker, I yield myself such time as I may consume.
Mr. Speaker, for far too long, hardworking American taxpayers watched as an entitled Federal Government took a bigger and bigger slice from their family's budget. But that changed last year. With the Tax Cuts and Jobs Act, we choose you, the hardworking taxpayers of this country.
With our new Tax Code, we were determined to let you keep more of what you worked so hard to earn, and, boy, have the results been incredible.
Eight months later, we have seen an economic turnaround with more jobs, bigger paychecks, and historic Main Street optimism. We have gone from asking, ``Where are the jobs?'' to asking, ``Where are the workers?''
One Main Street small-business owner recently told me that, thanks to the new Tax Code, they are hiring more, giving bonuses, buying more equipment, and, as he said, they are set to have their best year ever.
This has meant real change for real people, with nearly 1.7 million new jobs created just since January, and paychecks rising at their fastest rate in 9 years.
While this economic turnaround for America has come as a shock to opponents of the new Tax Code here in Washington, it is no surprise to millions of hardworking families and small businesses across America who were overtaxed and overregulated far too long.
Thanks to our new pro-growth Tax Code, there is new hope and a new optimism in America that wasn't here before. To call it a sudden change from the sluggish Obama-era economy would be an understatement. For a decade, it was like America's economy was going through a 25-mile-per- hour zone.
Now that the high taxes and the uncompetitive regulations of our Democratic friends are gone, we are on an open highway again. It is critical that we keep this strong momentum going, especially for Americans who were hit hardest by the Great Recession.
That is what this bill before us today is all about. By making the new code permanent for our families and small businesses, the Protecting Family and Small Business Tax Cuts Act will keep America's economy booming and middle class families growing again.
In fact, the nonpartisan Tax Foundation estimates that this bill will add 1.5 million new jobs and increase America's economy over 2 percent. That is on top, as I said, of the 1.7 million new jobs we have already seen created since President Trump signed the new Tax Code into law.
We don't want to go back to the bad old days of higher taxes, with Washington taking more of what our single moms, our hardworking parents, and our Main Street-owned business owners have worked so hard to earn. We don't want to go back to the bad old days when Main Street wasn't hiring, jobs were going overseas, and our economic growth was puttering along.
So given the choice between keeping taxes high and allowing families to keep more of their money, Republicans chose, and continue to choose, the American people.
I thank Representative Rodney Davis for introducing this bill, and Representative Mark Meadows and Representative Mark Walker, along with all of our Republican Ways and Means members, for being the original cosponsors and leaders of this bill.
In closing, empowering families to run their own lives is at the heart of the American Dream. It is the key to America's economic success, and it is the reason that 8 months after tax reform became law, Americans are more hopeful about their future and the American Dream.
Mr. Speaker, I reserve the balance of my time.
Mr. Speaker, I am proud to yield 2 minutes to the gentleman from Illinois (Mr. Davis), the leader and the original sponsor of this bill.
Mr. Speaker, I am very proud to yield 3 minutes to the gentleman from North Carolina (Mr. Walker), one of the three original leaders of this bill.
Mr. Speaker, I yield 2 minutes to the gentleman from Nebraska (Mr. Smith), who is one of our key members on the Ways and Means Committee from rural communities on this tax reform bill.
Mr. Speaker, I'm very proud to yield 2 minutes to the gentleman from Missouri (Mr. Smith), who is a key member of our Ways and Means Committee and who played, again, such a leadership role on tax reform for small businesses and agriculture.
Mr. Speaker, I am proud to yield 2 minutes to the gentlewoman from South Dakota (Mrs. Noem), who is a key member of the Ways and Means Committee.
Mr. Speaker, because of tax reform, Main Street businesses are booming. The chairman of the Small Business Committee has played a key role in that.
Mr. Speaker, I am proud to yield 2 minutes to the gentlemen from Ohio (Mr. Chabot).
Mr. Speaker, I yield 2 minutes to the gentleman from Georgia (Mr. Allen), who started a small business at age 25 and built it up from the ground up.
Mr. Speaker, I reserve the balance of my time.
Mr. Speaker, I yield myself 1 minute.
Mr. Speaker, let me just fact-check my colleague from Texas.
Since the tax reform bill became law on New Year's Day, 1.7 million jobs have been created in America, with wages rising at the fastest rate in 9 years.
Today, following these new policies, the median income for a married couple with two kids has $3,200 more in their take-home pay than it did just 12 months ago.
I will remind the voters in Mr. Doggett's district that an average family of four making $60,000 a year sees a tax cut of $1,131 that my Democratic colleagues want to steal back.
Mr. Speaker, I reserve the balance of my time.
Mr. Speaker, I yield 2 minutes to the gentleman from
Arizona (Mr. Schweikert), a key leader and member of the Ways and Means Committee.
Mr. Speaker, I note that the average middle class family in the 12th District of California will see a tax cut of $5,508 each year.
Mr. Speaker, I yield 2 minutes to the gentleman from Ohio (Mr. Wenstrup), a key member of the Ways and Means Committee.
Mr. Speaker, I have one.
Mr. Speaker, I yield 3 minutes to the gentleman from North Carolina (Mr. Meadows), one of the three original lead sponsors of this tax bill.
Mr. Speaker, may I ask how much time I have left.
Mr. Speaker, I yield myself such time as I may consume.
Mr. Speaker, I would note that the average middle-class family in my good friend Mr. Neal's district back home in Massachusetts will see a tax cut of nearly $2,000 each year.
So let's fact-check a couple of these claims today. Let's fact-check a few things, starting with my friend Mr. Neal's point about Dr. Wenstrup's call.
That gentleman wasn't complaining he didn't get enough tax cuts. He said his taxes would go up significantly. And he is correct, because under the Tax Cuts and Jobs Act, this relief goes to middle-class families and low-income families working their way up.
In fact, after the Tax Cuts and Jobs Act, millionaires of America who used to shoulder 19 percent of the tax burden now will shoulder 20 percent of the tax burden. They will carry more because this tax reform was designed for middle-class, working families.
Earlier today, we heard our respected Democratic leader say many things, including that the GOP tax cuts provide at least $1.3 trillion in tax breaks to corporations. FactCheck.org says that claim is misleading. In fact, of the $1\1/2\ trillion, over $1 trillion is for individual taxpayers.
Leader Pelosi said 86 million middle-class families will see a tax increase. The Washington Post gave her 2 Pinocchios, saying most every U.S. taxpayer can expect some kind of tax cut according to just about every analysis.
A lawmaker from Wisconsin, Democrat: Never let the GOP tell you again they support low taxes. They don't, unless you are already a billionaire or massive corporation.
PolitiFact gave that Democratic lawmaker a pants on fire rating, saying this will provide tax relief for the middle class, and most people in low-income households will see cuts as well.
Leader Chuck Schumer said companies are laying off American workers because of tax reform. PolitiFact said that was mostly false.
A California assemblyman says GOP tax cuts are nothing more than a middle-class tax increase. PolitiFact just killed them, called that just flat-out false.
Senator Claire McCaskill said the tax cuts are not going to be helpful to the vast majority of people. The Washington Post also gave her two Pinocchios, said that is flat wrong, says she ignores the immediate impact of the law, which means noticeable tax cuts for her constituents for a number of years.
And, of course, dozens of Democrats continue to state 83 percent of all tax breaks go to the top 1 percent. FactCheck.org--down, misleading, because it cites projections for 2027. In fact, the only way that will be true is if you vote ``no'' today. If you vote ``yes,'' these middle-class tax cuts are permanent.
We have heard, today, scare tactics about the impact to Social Security and Medicare. Let me cite the Joint Economic Committee that shows the Congressional Budget Office said the Medicare trust fund solvency improved after tax reform. The tax reform strengthened the major funding source for the Medicare trust fund. Americans leaving disability for jobs due to a stronger economy will improve Medicare solvency, and the number of uninsured Americans fell--fell--after tax reform in the individual mandate.
And the final point, let's talk about debts and deficits, Mr. Speaker. This is a pleasant surprise to hear our Democrats suddenly concerned. They weren't, under President Obama, when they doubled the national debt. They added $2 trillion in just 1 year.
I am not going to talk about sailors who drink. I will just say this. Democrats were concerned, didn't care about deficits when they were spending your money; but now that you are spending your money, all of a sudden, everything is changed.
The truth of the matter is: Who do you trust, Washington to spend your money, or you and your family?
Mr. Speaker, I yield back the balance of my time.
Mr. Speaker, I withdraw my reservation of a point of order.
Mr. Speaker, I rise in opposition to the motion to recommit.
Mr. Speaker, you know Washington. You know Washington. If you don't have an argument, just scare people; just frighten them to death. That will work.
But people are smart. When you calm down all the rhetoric and all the anger and all the outrage, what we know is this: The Congressional Budget Office--it isn't Republican or Democrat--it found the Medicare Trust Fund solvency got better after tax reform.
In fact, tax reform strengthened the major funding source for the Medicare Trust Fund and now, because we have more people, especially those disabled, going back to work, getting a job that they had hoped for, it is actually improving Medicare solvency. So that great big scare tactic just got fact-checked.
In fact, already this year, the Federal Government is receiving $105 billion more, Mr. Speaker, in payroll taxes and individual taxes, and those payroll taxes are what are the foundation of Social Security and Medicare.
The truth of the matter is, as we look at this bill, both parties claim to be champions of hardworking taxpayers. Well, let's check.
So, under this bill, a single mom, working her way out of poverty, permanently will see $1,700 more in her paycheck each year. Democrats who vote ``no'' will steal that money back from that single mom.
Middle-class family of two, two teachers in my district, with two kids, under this bill, permanently will see a tax cut of $2636. A ``no'' vote steals that money back from that family.
That Main Street business, moms and pops working all hours, all weekends, all year, under this bill, permanently they will see a tax cut of $3,000
every year, and they can write off on their taxes that new computer, that new equipment, that new improvement to their store. A ``no'' vote hammers America's Main Street businesses.
Young parents, struggling to raise kids, where every dollar matters, this bill makes sure that that doubling of the child tax credit is permanent, and millions more Americans, middle-class families, will get help raising their precious children. A ``no'' vote is to take that money back from those young parents. Oh, by the way, take back their tax-free savings for school and college for that child as well.
And, yes, in this bill, we make sure seniors can write off more of their high medical expenses. Some called it the cancer tax. A ``yes'' vote will help millions of seniors and millions of families with high medical bills more easily write those taxes off. A ``no'' vote is to deny American seniors, American families' ability to write off those taxes.
Now, we know, thanks to ObamaCare, high out-of-pocket costs is now the preexisting condition. This bill makes sure that we stand on the side of those seniors, whether they are battling cancer or some other menaces.
At the end of the day, while some would say, look, we need to raise the SALT cap, let me just say this: That SALT cap is a $10 tax cut for the middle class and a $146,000 tax cut for millionaires. In other words, Democrats who vote ``no'' say they just want more tax cuts for the rich.
And the fact of the matter is, States are seeing a $20 billion windfall. State governments and Governors, all they need do, don't pocket that money for their budget, pass it on to hard working taxpayers.
At the end of the day, revenues are up. Payroll taxes are up. Social Security and Medicare are strengthened.
So at the end of the day, who do you trust? Who do you trust with your hard-earned money? Is it Washington, so they can take it and spend it on their special interests? Is it you? Is it your family? Is it your American Dream?
This bill is about making sure that we choose the American people. We choose you, the middle-class families. We choose you, Main Street America, to better use your money than Washington does.
As we conclude, Mr. Speaker, I would like to thank our tax team, led by Barbara Angus, our Chief Tax Counsel, Aharon Friedman, Randy Gartin, Aaron Junge, Loren Ponds, John Sandell, Donald Schneider, Victoria Glover, John Schoenecker, and Quinton Brady, for doing a remarkable job for us and for the American people.
I urge a ``yes'' on protecting tax cuts for individuals, middle-class families, and small businesses.
Mr. Speaker, I yield back the balance of my time.